Coal news and updates

Weekly US coal production estimates fall to five-year low: EIA

Weekly US coal production totaled an estimated 15.1 million st in the week ended May 30, the lowest level in the last five years, US Energy Information Administration data showed Thursday.

The estimate was down 6.1% from the prior week and down 20.7% from the year-ago week. It marks the 15th straight week of declining coal production estimates when compared with year-ago levels.

The EIA does not comment on its production estimates, but low natural gas prices and increasing coal stockpiles are largely behind the drop in production.

Platts unit Bentek Energy estimated coal stockpiles stood at 168.7 million st as of May 28, roughly 24% higher than the same time last year, and up 1% from the five-year average for the week.

Coal production during the week ended May 30 in Wyoming and Montana, which is mostly made up of production from the Powder River Basin, totaled an estimated 8.2 million st during the week, down 20% compared with last year, according to the EIA.

Year-to-date coal production in Wyoming and Montana is estimated to total 163.9 million st, down 6.9% compared with the same period last year.

In Central Appalachia, weekly coal production totaled an estimated 2.7 million st, down 28.3% from last year. Year-to-date coal production is estimated to total 49.1 million st, down 13.6% from last year.

Weekly coal production in Northern Appalachia totaled an estimated 2.6 million st, down 18.4% from last year. Year-to-date coal production is estimated to total 53.9 million st, down 4.4% from last year.

In the Illinois Basin, weekly coal production totaled an estimated 2.5 million st, down 17.9% from last year. For the year, Illinois Basin coal production is estimated to total 52.4 million st, down 7.3% through the same period last year.

The agency, which bases its estimates off rail car loadings, said year-to-date US coal production totaled an estimated 378.9 million st, down 7.5% from the comparable period last year.

source: http://www.platts.com